sumption that if a corporation is large enough it can do no wrong.

I think I speak for the great majority of the American people when I say that we are not in the least against wealth as such, whether individual or corporate; that we merely desire to see any abuse of corporate or combined wealth corrected and remedied; that we do not desire the abolition or destruction of big corporations, but, on the contrary, recognize them as being in many cases efficient economic instruments, the results of an inevitable process of economic evolution, and only desire to see them regulated and controlled so far as may be necessary to subserve the public good. We should be false to the historic principles of our Government if we discriminated, either by legislation or administration, either for or against a man because of either his wealth or his poverty. There is no proper place in our society either for the rich man who uses the power conferred by his riches to enable him to oppress and wrong his neighbors, nor yet for

the demagogic agitator who, instead of attacking abuses as all abuses should be attacked whereever found, attacks property, attacks prosperity, attacks men of wealth, as such, whether they be good or bad, attacks corporations whether they do well or ill, and seeks, in a spirit of ignorant rancor, to overthrow the very foundations upon which rests our national well-being.

In consequence of the extraordinary industrial changes of the last half century, and notably of the last two or three decades, changes due mainly to the rapidity and complexity of our industrial growth, we are confronted with problems which, in their present shape, were unknown to our forefathers. Our great prosperity, with its accompanying concentration of population and of wealth, its extreme specialization of faculties, and its development of giant industrial leaders, has brought much good and some evil, and it is as foolish to ignore the good as wilfully to blind ourselves to the evil.

The evil has been partly the inevitable accom

"SHOULD AULD ACQUAINTANCE BE FORGOT"

When President Roosevelt arrived at the little town of Medora, North Dakota, where he owned a ranch in 1886, he was given a truly Western reception.

Ready to start on a two weeks' trip through Yellowstone Park.

paniment of the social changes, and where this is the case, it can be cured neither by law nor by the administration of the law, the only remedy lying in the slow change of character and of economic environment. But for a portion of the evil, at least, we think that remedies can be found. We know well the danger of false remedies, and we are against all violent, radical, and unwise change. But we believe that by proceeding slowly, yet resolutely, with good sense and moderation, and also with a firm determination not to be swerved from our course either by foolish clamor or by any base or sinister influence, we can accomplish much for the betterment of conditions.

Nearly two years ago, speaking at the State Fair in Minnesota, I said:

"It is probably true that the large majority of the fortunes that now exist in this country have been amassed, not by injuring our people, but as an incident to the conferring of great benefits upon the community, and this, no matter what